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Calgary is on the world radar as one of the globe’s top energy centres and that has translated into high downtown office rents as the oilpatch dominates the city’s core commercial real estate market. A new CBRE Limited report, Energy Sector Trends, Global Energy Hubs, reveals that Calgary is listed as one of the top cities globally, and highest in North America, for prime office rents for major energy centres, based on U.S. dollars per square foot in the second quarter of this year.

CALGARY - After a downturn in the downtown Calgary office market last year, leasing activity has picked up in the city but still at a slow pace. Randy Fennessey, president/partner of Colliers International, described Calgary’s downtown commercial real estate market as a “healthy” one with a vacancy rate at about 8.13 per cent.

CALGARY - The outlook for Calgary’s commercial real estate market remains bullish despite a temporary slowdown in activity, particularly for downtown office space, says a new report by CBRE Limited. On Monday, the company released its 2014 Canadian Market Outlook, saying the year ahead will likely be paced more slowly after many years of record demand for commercial space and rising rents.

Calgary’s convention authority doesn’t know yet if Ottawa and the province will help fund a new study for a facility expansion — let alone the centre itself — but they want city council to commit untold millions of dollars to buy downtown land for a bigger complex. The mayor and councillors are wary of the request before they formally see it, and it’s not clear there’s enough space anywhere in the core for a massive new convention centre, according to one prominent realtor.

CALGARY — It appears another downtown Calgary office development cycle is underway with millions of square feet of space on the horizon. On Thursday, a groundbreaking ceremony took place for the latest skyscraper, the 25-storey Eau Claire Tower, and on July 4 Telus is scheduled to announce what it describes as “an exciting new development.”

The Bow tower is poised any day now to surpass Suncor Energy Centre as the tallest office building in Calgary, with steel today at 51 floors -- just one floor below the formerly named Petro-Canada Centre.

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